At David Douglas Accountants we specialise in tax return strategies. We will show you how to claim all the tax deductions that you are entitled to and maximize Family Tax Benefits. For businesses, we will evaluate the best business structure for you to lessen the burden with the use of trusts, companies and superannuation funds. We do tax returns for individuals, trusts, companies, partnerships, contractors, ABN and sole traders.
Services
You can not pay down your rental property and then redraw or borrow against your rental property for a completely different purpose and still claim a tax deduction for interest. Many clients use an Off-Set Loan Account to avoid paying down their loan while still receiving the benefit of an interest reduction.
Employers usually contribute 9.50% of ordinary time earnings to your superannuation fund and then claim a tax deduction. Employees under 18 years old must also work at least 30 hours per week. Employers must make these payments on 28th day after each quarter or pay a superannuation guarantee charge which includes the 9.50% superannuation plus interest plus an ATO administration fee.
1. Sole trader - You operate this as an individual using your own ABN, TFN, GST, PAYG, etc. The trustee(s) may distribute income and capital gains to any beneficiaries as per the trust deed. The trustee(s) may distribute income or capital gains to the unit holders as per the trust deed. The unit holders may be discretionary (family) trusts, companies, individuals or other entities.
If you register a trading name directly via the ASIC website this is usually $34 for one year or $79 for three years. If you have issues with the ASIC website try TradingAs.com.au which is generally easier, has a good 7 day helpline and charges $85 in addition to the ASIC fee. MYOB and QUICKBOOKS require a lot of supervision and training which is time consuming and expensive.
